EICHERMOT 1D, is at 52 WEEKS HIGH now.
FUNDAMENTALS: Eicher motors posted NEGATIVE results since 3 quarters and stock still makes 52-weeks high which doesn't look sustainable to me.
TECHNICALS : stock forming DOJI on top and trend reversal may happen .
My view : Eichermot may fall and I'll short ONLY below the Low of doji.
Trgt is near 2300
It may retrace...
On break of the rising wedge, the stock can give smooth down move.
There are confluence of factors favoring the downside.
1. Upper trend-line of the channel
2. Bearish Engulfing on Day chart
3. At the lower support of wedge trend line.
I am looking at downside of 3%-5% from here on. 1300 is strong support.
SL: 1435 on Dec Futures contract.
SL can be moved just...
Reasons to go Short on Nifty:
- Rising Channel/ Rising Wedge/ Ending Diagonal Pattern (call it whatever) has formed on Nifty 4Hr Chart
- Triple RSI Bearish Divergence + MACD Divergence
- Today we saw a Steep Sell off (Wide Range Bear Candles)
- Market breadth has shifted in favour of declines to 1:2; it was at 6:1 during the opening today
- On Nifty's Daily...
Short nifty between 12850-13050 sl 13200 on closing basis. Positional target 11k with in 2 months. Price facing resistance in channel as well. Top out of channel. Following ABCD Pattern on monthly chart.
As the markets are making new highs, Reliance is still struggling to position itself. In fact, it is breaking down. Previously Reliance has shown reversal near 1800 and again it's trading near that level, do this time it will reverse or will retest 1600?
This analysis is done only for educational & intelligence purposes, invest or trade at your own risk
Head and Shoulders pattern is forming in Axis Bank 1 Hour Chart, Expected Target is 540. Wait for Breakout and you can keep Stop Loss above Right Shoulder or above Head as per your Risk taking strategy.
Can you see the Chart is speaking very clear?!
- 38.2% Fib retracement done from the Tops, and the Pennant was Counter trend in nature with a 3 Wave Advance
- On 10th November, we got confirmation to Short, Price also closed below 5 Day EMA and it has turned down sloping now
- Also notice how Price cannot sustain above Anchored VWAP from the Tops
- Price is...